Pegasus Airlines Expands European Footprint with Acquisition of Czech Airlines and Smartwings
Pegasus Airlines has announced a landmark agreement to acquire Czech Airlines and its subsidiary Smartwings, marking a significant step in the Turkish carrier’s international growth strategy. The €154 million transaction, which includes both companies and related receivables, is subject to regulatory approvals and transfer conditions.
Founded in 1990, Pegasus Airlines has built its reputation on a low-cost model that has made air travel accessible to millions. Today, the airline operates flights to 158 destinations across 55 countries, supported by one of the youngest and most fuel-efficient fleets in the industry.
Smartwings, the largest carrier in the Czech Republic, operates under both the Smartwings and Czech Airlines brands. With a network spanning 80 destinations in 20 countries, strong partnerships with tour operators, and a leading position in Central and Eastern Europe’s leisure travel market, the group brings considerable regional strength to Pegasus’ expanding portfolio.
Strategic Growth and Shared Vision
The acquisition aims to combine the resources and expertise of both carriers, creating a stronger organisation with an expanded network and affordable fares. Pegasus Airlines CEO Güliz Öztürk described the deal as “opening a new chapter in our growth journey,” highlighting the combined fleet of 174 aircraft and the shared ambition to spread wings across Europe.
Öztürk emphasised that the integration is not only about growth but also about building resilient, technology-driven companies that prioritise safety and deliver personalised, efficient travel experiences. “We didn’t start aviation in Türkiye, but we transformed it – and now, we’re ready to take the next step in our growth story,” she said.
Endorsement from Czech Airlines Shareholders
Jiří Šimáně, shareholder of Czech Airlines and co-founder of Smartwings, expressed confidence in Pegasus as the ideal partner to continue the legacy of the Czech carriers. “We take great pride in having successfully established and grown Czech Airlines and Smartwings with limited resources and without government support. Pegasus Airlines represents the ideal shareholder, one that will bring millions of passengers new benefits, enhanced connectivity, and a continued joy of travel,” he noted.
Šimáně also extended gratitude to employees, partners, and passengers for their loyalty and contribution, adding that the airlines are poised to thrive under Pegasus’ stewardship.
Looking Ahead
With this acquisition, Pegasus Airlines strengthens its presence in Europe and positions itself for continued global expansion. Operating under two distinct brands – Pegasus Airlines and Smartwings – the combined organisation is set to deliver broader connectivity, affordable fares, and a future-focused approach to air travel.